Wednesday, June 11, 2008

Buying Collectibles In Quantities Makes Sense – Marsha’s Story

31 Club Member struck gold with this Minton Oyster Plate and learned the value of buying in quantity.

A few weeks back, I wrote about a 31 Club member, Marsha, who I helped make decisions on buying a large McCoy Pottery collection she located from a local newspaper ad. The collection had about 100 pieces plus a few throw in items consisting of several Shawnee pieces, and one oyster plate.

The owner had not asked us anything about his collection and had decided to offer it to anyone who was interested at a price we could both be satisfied with. His goal was to get it out of his house as soon as he could.

Although the asking price for the lot was extremely reasonable at $500, we still asked if there was any room for a better price. (We followed the rules, anyway.) Since there had been no other interest, (we were the only response he got to his ad) he was receptive to reducing the price to $400.

Once we left this man’s house, I had asked Marsha how she thought we did. She didn’t really know, but hoped we did okay. Once we got into the car and drove off, I told Marsha that I believed there was just one piece we purchased in the lot that would pay for all of the pieces, and might even give her a profit above and beyond what she paid out. At first she looked at me like I was a nut case, then she asked, “Which one?”

“It’s not any of the McCoy pieces or even the Shawnee. But, that one oyster plate will probably bring you over $500,” I told her. Now, I didn’t have my book with me, but since I was almost certain this oyster plate was a Minton, I took a guess at the price. I could tell by her eyes that she wasn’t quite sure she trusted me on that. She got rather quite and I suspected she might be wondering what she just got herself into.

Marsha struggled a bit beginning with this program. While she has a great eye for quality, cashing in on her great buys was another story. If you recall from my previous Blog about Marsha, she had some basic office set up tasks to take care of before she could sell her found treasures, and this was holding her up. She needed a digital camera and had to learn how to use it. She needed to buy a new computer in order to even have the capacity to use the camera. Her computer was from the stone age. She’d never used eBay before, but, being the excellent student she is, it didn’t take long for her to catch on and soon listed her Minton Oyster Plate.

A bid of $250 for the plate finally gave her some hope. Soon someone bid $350, but then the listing sat with no activity up until close to the end of the auction. The real action started in the last 30 seconds, when it was bid up to $572. (Most of the bids on eBay today come within the last minute of the offering.) When you figure her cost was under $4, this selling price made for a pretty fair return on investment, wouldn't you say? I don’t know about you, but I’m sure going to keep my eyes open for oyster plates.

I believe if Marsha had previously used eBay and already had a good feedback history, this plate could’ve brought even more money. You see, people are fearful of new listers who haven’t done business on eBay before, and will often not bid as high as they might for a lister with an established eBay record. Trust needs to be earned.

She has already begun selling her McCoy items, and several of them have brought over $20. And it’s all profit from here on down the line. I suspect those 100 plus McCoy items will keep Marsha very busy.

If you haven’t already taken a look into the expanded 31 Gallery & Marketplace, please do so. It will serve you well as an educational tool and a guide.

Stay tuned for more 31 Club Member’s Great Finds, How they Bought Them, How and Where they Sold Them.

Join Daryle Lambert's 31 Club, today. Put a Turbo Charge on your Antique & Collectible Treasure Hunting Skills. Get FREE MENTORING. Learn Inside the Industry Secrets that help you increase your profits. Continue to Grow Your Money Buying and Selling Antiques, Fine Art, and Collectibles with Daryle's Strategic Business Plan. Our Members are Newbies to Seasoned Dealers who are making more money than they thought possible.

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1 comment:

  1. Daryl - Great story about Marsha's success. It's stories like these that share the details and experience of buying and selling that really help others who are just starting out. I so appreciate all of the effort that you have taken to share your expertise and to teach others to be a success in this business. You're the best!!